Gateway Investment Advisers LLC has increased its stake in Republic Services, Inc. (NYSE: RSG – Get Rating) by 49.2% in the first quarter, according to the company in its last submission to the SEC. The institutional investor owned 5,760 shares of the business service provider’s shares after buying an additional 1,899 shares in the quarter. Gateway Investment Advisers LLC owns $ 763,000 at Republic Services as of its last filing with the SEC.
A number of other hedge funds have also recently bought and sold RSG shares. Allspring Global Investments Holdings LLC bought a new position in shares of Republic Services in the 4th quarter worth $ 499,246,000. Norges Bank bought a new position in shares of Republic Services in the 4th quarter worth $ 277,394,000. BlackRock Inc. raised its stake in Republic Services shares by 2.3% in the 4th quarter. BlackRock Inc. already owns 20,657,599 shares of the business service provider’s shares worth $ 2,880,704,000 after purchasing an additional 466,966 shares during the period. Marshall Wace LLP bought a new position in shares of Republic Services in the 4th quarter worth $ 55,983,000. Finally, Allianz Asset Management GmbH raised its stake in Republic Services by 197.2% in the fourth quarter. Allianz Asset Management GmbH already owns 547,248 shares of the business service provider’s shares worth $ 76,313,000 after purchasing an additional 363,101 shares during the period. 92.80% of the shares are currently owned by hedge funds and other institutional investors.
A number of research analysts have weighed the company. Raymond James raised his target for Republic Services prices from $ 140.00 to $ 142.00 and gave the stock a rating “superior” in a research note on Friday, April 22. JPMorgan Chase & Co. began covering Republic Services in a research report on Tuesday, March 1st. They issued a “neutral” valuation of the shares. Deutsche Bank Aktiengesellschaft upgraded Republic Services from a “hold” to a “buy” rating and set a target price of $ 147.00 per share in a research report on Thursday (June 16th). Bank of America upgraded Republic Services from a neutral to a buy rating and raised its target price for the stock from $ 140.00 to $ 150.00 in a research report on Friday (May 13th). Finally, Morgan Stanley lowered its target price for Republic Services from $ 152.00 to $ 142.00 and set an overweight rating for the shares in a research report on Wednesday. Two investment analysts rated the shares with a hold rating, six gave a buy rating and two gave a strong stock buy rating. According to MarketBeat, the shares currently have a consensus Buy rating and a consensus target of $ 138.14.
In other news, CAO Brian A. Goebel sold 347 shares of the company’s shares in a deal on Thursday, June 2nd. The shares were sold at an average price of $ 135.01, for a total transaction of $ 46,848.47. Following the sale, the chief accountant now directly owns 6,186 shares of the company worth $ 835,171.86. The sale was disclosed in legal documentation in the Securities and Exchange Commission, which you can access through this hyperlink. Also, Chief Operating Officer Timothy E. Stewart sold 15,000 shares of the company’s shares in a deal on Tuesday, June 7. The shares were sold at an average price of $ 135.19, for a total value of $ 2,027,850.00. Following the sale, the chief operating officer now owns 19,675 shares of the company’s stock worth $ 2,659,863.25. The disclosure for this sale can be found here. 0.06% of the shares are owned by insiders of the company.
Shares of NYSE RSG opened at $ 129.90 on Friday. Republic Services, Inc. has a 12-month low of $ 108.10 and a 12-month high of $ 145.98. The company has a market capitalization of $ 41.03 billion, a P / E ratio of $ 30.78, a P / E / G ratio of $ 2.58 and a beta ratio of 0.75. The company has a current ratio of 0.75, a fast ratio of 0.75 and a debt to equity ratio of 1.07. The shares have a 50-day moving average price of $ 130.81 and a 200-day moving average price of $ 130.02.
Republic Services (NYSE: RSG – Get Rating) last announced its quarterly earnings results on Thursday, May 5th. The business service provider reported $ 1.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $ 1.05 by $ 0.09. Republic Services had a return on equity of 15.60% and a net profit of 11.54%. The company had revenue of $ 2.97 billion in the quarter, compared to the consensus estimate of $ 2.89 billion. During the same period last year, the company earned $ 0.93 EPS. The company’s quarterly revenues increased by 14.4% compared to the same quarter last year. On average, sales analysts predict that Republic Services, Inc. will report EPS of 4.67 for the current fiscal year.
The company also recently announced a three-month dividend, which will be paid on Friday, July 15. The record shareholders on Friday, July 1, will receive a dividend of $ 0.46 per share. The date of the former dividend is Thursday, June 30. This represents a $ 1.84 annual dividend and a dividend yield of 1.42%. Republic Services’ dividend payout ratio is currently 43.60%.
Company profile Republic Services (Get a rating)
Republic Services, Inc., along with its subsidiaries, offers environmental services in the United States. The company offers collection and processing of recyclable materials, collection, transfer and disposal of non-hazardous solid waste and other environmental solutions. Its collection services include the collection of materials for transportation to transport stations, landfills or recycling centers; delivery of containers for recycling and waste; and rental of compactors.
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